Connaught Place: World’s 8th costliest office location in 2013

As per the global property consultant Cushman & Wakefield report, Connaught Place in Delhi is the world’s eighth costliest office location in 2013. It fell to the eighth position (from 4th position) due to an appreciation in both the US dollar and euro against the Indian rupee in 2013.

Rank

Location/City

Occupancy Cost ($/sq ft/yr)

1

West End, London (UK)

271.61

2

Central, Hong Kong

183.32

3

CBD, Moscow (Russia)

139.8

4

CBD, Beijing (China)

131.48

5

CBD, Tokyo (Japan)

128.34

8

Connaught Place, New Delhi

122.73

Excerpts of the & Wakefield report 2014

Focus: On prime office rental performances and occupancy costs across the globe, including a ranking of the most expensive locations across the world in which to occupy office space.

The location continues to remain high on priority for sectors viz. BFSI, consulting, trade, media, etc.

Global office rents increased by 3% overall.

The USA and Mexico saw the prime rents rise compared to other top ranked cities that saw the fall in prime rents.

Moscow and New Delhi recorded no change in rental values.

In Asia Pacific rental growth was largely flat on the back of a slowing economy though, the economic climate improved as the year progressed.